Gold, oil futures waver on hawkish Yellen remarks

Gold and oil futures seesawed between minor losses and gains Friday after the U.S. Federal Reserve Chairwoman Janet Yellen said in a speech at the Jackson Hole, Wyo. economic symposium that the case for another interest-rate increase has strengthened. Gold for December delivery traded at $1,326.50 an ounce, up $1.90, or 0.1%, from Thursday’s settlement. It was trading around $1,333.20 before Yellen spoke. October oil added 11 cents, or 0.2%, to $47.46 on Nymex. It was trading at $47.39 before the speech.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply